Insolvency And bankruptcy Code 2016:’Fresh Start Process’ For Individuals And partnership Firms
The Insolvency and Bankruptcy Code (IBC) 2016 can be a game-changer to resolve problems of insolvency for individuals and Partnership firms. In particular, its ‘Fresh Start Process’ – although not yet notified – is envisaged as a solution for debtors to discharge their (small) debts and start afresh without any liabilities. Why the IBC …